Global Anticoagulant Reversal Drugs Market, by Drug Type (Prothrombin Complex Concentrates, Phytonadione, Andexanet Alfa, Idarucizumab, Protamine, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,154.3 million in 2021 and is expected to exhibit a CAGR of 15.1% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on research and development activities, which is expected to drive the market growth over the forecast period.
For instance, in November 2020, Perosphere Pharmaceuticals Inc., a subsidiary of AMAG Pharmaceuticals, Inc., initiated a Phase II clinical study titled as : ‘A randomized, double-blind, placebo-controlled study to evaluate the efficacy and safety of ciraparantag for reversal of anticoagulation induced by different anticoagulant drugs in generally healthy adults’.
Moreover, rising prevalence of bleeding disorders are expected to drive growth of the global anticoagulant reversal drugs market during the forecast period. For instance, according to the World Federation of Hemophilia 2017 statistics, in China, around 14,390 people were suffering from hemophilia A and 12,533 people were diagnosed with hemophilia A in 2016. Furthermore, according to the World Federation of Hemophilia 2017 statistics, in India, around 18,353 people were suffering from hemophilia and 15,218 people were diagnosed with hemophilia A in 2016.
Global Anticoagulant Reversal Drugs Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 190 million cases and 4.1 million deaths due to Coronavirus (COVID-19) were reported up till July 18, 2021, across the globe.
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the demand and supply in global anticoagulant reversal drugs market. The COVID-19 pandemic has affected the demand and supply of anticoagulant reversal drugs market by creating disruptions in distribution channels; and by its financial impact on firms and financial markets.
Moreover, the COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced- social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, CROs, and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic.
For instance, according to the Applied Clinical Trails registry in April 2020 study, investigative sites demonstrated flexibility and ingenuity in adopting new approaches to cope with challenges of COVID-19, with over half of investigative sites transitioning to virtual approaches to interact with patients. More recently, follow-up studies performed in August 2020, have identified persistent impact of COVID, with over 60% reporting an 'average' or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment.
Browse 32 Market Data Tables and 21 Figures spread through 160 Pages and in-depth TOC on “Anticoagulant Reversal Drugs Market”- Global Forecast to 2028, by Drug Type (Prothrombin Complex Concentrates, Phytonadione, Andexanet Alfa, Idarucizumab, Protamine, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
To know the latest trends and insights prevalent in the global anticoagulant reversal drugs market, click the link below:
Rising acquisition and collaboration strategies by the market players is expected to aid in growth of the global anticoagulant reversal drugs market over the forecast period. For instance, in July 2020, AMAG Pharmaceuticals, Inc. and Norgine B.V., a pharmaceutical company announced an exclusive licensing agreement for developing and commercialization of ciraparantag in Europe, Australia, and New Zealand. Ciraparantag is under development for use in patients treated with direct oral anticoagulants and heparin when reversal of the anticoagulant effect of these products is needed for emergency surgery, urgent procedures, or due to life-threatening or uncontrolled bleeding.
Key Takeaways of the Global Anticoagulant Reversal Drugs Market:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.